Castellum’s new project in Stockholm’s Hagastaden receives go-ahead – investment of approximately SEK 1.7 billion
Castellum's vision for the new Hagastaden takes a big leap towards realization. The City of Stockholm has given the go-ahead for construction of the Infinity office property with 20,000 square meters for the workplace of the future. The total investment volume is at approximately SEK 1.7 billion, of which land acquisitions are estimated to amount to approximately SEK 650 million.
The project will start in the spring of 2021 and is planned to be completed in 2025 after extensive building construction and foundation work by Castellum as well as completion and infrastructure work by the City of Stockholm. As soon as the city’s completion work is finished, Castellum can formally take over the land, pay the purchase price and start construction of the office buildings, which is expected to take place during the first half of 2023.
Hagastaden is the new urban district that connects Stockholm with Solna and expands the inner city to the north. It is a central part of the capital's Vision 2040 for an innovative and growing region. Over the next ten years, the area will be developed with a mix of housing, park areas and knowledge-intensive business with a focus on life science. Fully developed, Hagastaden will include approximately 50,000 new jobs and 6,000 homes.
For several years, Castellum has been present in Hagastaden with Isotopen, a state-of-the-art property of 23,000 sqm. Construction will soon start on Infinity and later Emerald House and Jubileumshuset - the latter two in collaboration with HSB to create synergies between housing and workplaces that will ensure life and activity every day of the week.
This summer, Castellum became the first in Scandinavia with a WELL-certified office building (Eminent in Malmö), and Infinity will be developed completely in line with Castellum's world-leading sustainability work, with certifications according to both Miljöbyggnad and WELL.
“Infinity will have all the qualities that guide us when we build for the future. With a focus on health and well-being, solar cells on the roof and WELL certification, we contribute with our know-how about the sustainable workplaces of the future”, says Martin Bjöörn, CEO of Castellum Region Stockholm-Norr.
Facts about Infinity;
Number of storeys: 12 storeys above ground and 2 basements
Total office space: approx. 19,800 sqm
Total space: approx. 26,600 sqm
Estimated start of construction: May 2021
Estimated occupancy: 2025
Environmental certification: Environmental Building Gold and WELL
For further information please contact:
Henrik Saxborn, CEO Castellum AB, +46.706.947450
Ulrika Danielsson, CFO Castellum AB, +46.31.607474
About Castellum:
Castellum is one of Sweden's largest listed real estate companies with a property value of SEK 98 billion. We are active in 17 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions in close proximity to city centres and with a lettable area of 4.3 million square meters. One of our sustainability goals is to be completely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se
